Client: Tollan Energy
Area of Law: Corporate
Tollan Energy is a UK renewable energy generating company, which received investment via the Enterprise Investment Scheme (EIS). The five-year EIS qualifying period has now been reached and the business will be marketed for sale with an investment memorandum being issued in December 2017.
Over the last twelve months, we have been assisting our client to prepare the business for sale. This has included dealing with a number of oversize systems in Northern Ireland – where we needed to get the landlord’s permission to re-use the systems, dealing with the disposal of oversize systems where landlord’s consent was not forthcoming and regulatory issues, and dealing with systems where there were issues with either the registration of the leases or absence of building controls.
These are all crucial matters that need to be resolved ahead of the sale, and illustrate the cross border nature of our renewable energy practice, in this instance the complexities of dealing with Northern Ireland where the renewable energy subsidy schemes differ from those in GB.
This is a multi-jurisdictional transaction with dealings in Northern Ireland.